Category Archives: fools ‘n frauds

Ghosn – Muzzled – Bites Back After Nissan Board Ouster

“This is not about greed or dictatorship, this is about a plot, this is about a conspiracy, this is about a backstabbing,” Ghosn said. “I am innocent of all the charges that have been brought against me,” he said. Continue reading

Posted in fools 'n frauds, litigation, people | Tagged , , , , | 1 Comment

Directors Carlos Ghosn, Greg Kelly Voted Out at Nissan

Hiroto Saikawa, President, among others, came under shareholder scrutiny for his protested innocence of having any knowledge of the scandal even though he was one of Ghosn’s “ right hand men…” Continue reading

Posted in fools 'n frauds, litigation, people | Tagged , , , , , , , , | Leave a comment

Death of the Diesel – European Commission’s Ongoing Antitrust Probe Opens Formal Investigation into Possible Collusion Between Audi, BMW, Daimler, Porsche And VW

The EU maintains that Volkswagen, Audi, Porsche colluded, in breach of EU antitrust rules, to avoid competition on the development and roll-out of technology to clean the emissions of gasoline and diesel passenger cars. Continue reading

Posted in environment, fools 'n frauds, fuel economy or emissions, litigation | Tagged , , , , , , , , | Leave a comment

If Trump Closes the Mexican Border, the Entire U.S. Auto Industry Shuts Down in Days

There are few vehicles assembled in the United States that do not rely on Mexico for at least some parts content. Vehicle assembly is the quintessential “complete set” — an assembly plant cannot build a partial vehicle. Even if a few relatively minor parts are missing, automakers do not make a practice of storing the vehicles and then repairing them when the parts are ready. This repair work alone creates the potential for quality issues. Since it is impossible to do a partial build, the assembly plant and many of its associated supplier plants will be idle until the automaker can obtain sufficient stock to relaunch production. Continue reading

Posted in AutoInformed Editorial, economy, fools 'n frauds, manufacturing, news analysis | Tagged , , , , , , , | Leave a comment

GM Strikes Out Against Usually Winless UAW as Mexican-Made Blazer Pulled from Opening Day Lineup in Detroit

As AutoInformed has covered extensively since November 2018 when GM said it will idle five plants in North America this year and early next year – affecting more than 6000 jobs – the Oshawa shut-out was minor league with major consequences. Continue reading

Posted in AutoInformed Editorial, customer satisfaction, fools 'n frauds, labor issues, recalls | Leave a comment

Brexit Bloody Hell! Now Stock Exchange Issues

Well, it seems that there are risks posed by jurisdictional share trading obligations, which “could increase market fragmentation and impose unnecessary costs on investors,” the SEC said in a whistling past the graveyard observation. Hell, it’s not even clear that the UK can continue to be a key market for funds and fund managers in the United States. Continue reading

Posted in economy, fools 'n frauds, manufacturing, news analysis | Tagged , , , , , , , | Leave a comment

Damning SEC Charges on Volkswagen ‘Clean Diesel’ Fraud

2. Winterkorn and other VW executives were made aware of the defeat device as early as November 2007, during a meeting with VW engineers, to discuss the emissions problems with VW’s “clean diesel” vehicles. Continue reading

Posted in fools 'n frauds, litigation, news analysis | Tagged , , , , , , , , , , | Leave a comment

SEC Charges Volkswagen, Ex CEO Winterkorn of Defrauding Bond Investors During “Clean Diesel” Emissions Scam!

It’s a wide-ranging indictment that could lead to complicated litigation, ruinous fines and settlements,  while prompting similar charges and litigation from other countries. As such it’s the latest nail in the diesel coffin. Volkswagen did not immediately respond to AutoInformed. Continue reading

Posted in environment, fools 'n frauds, litigation, news analysis | Leave a comment

Real News: SEC Charges Lumber Liquidators with Fraud

Lumber Liquidators agreed to pay more than $6 million to settle the SEC action. The SEC’s order finds that in early 2015, Lumber Liquidators, a discount retailer of hardwood flooring, made public statements in response to a “60 Minutes” news program episode that showed undercover video of Lumber Liquidators’ suppliers stating that they provided the company with products that did not comply with regulatory requirements.  Continue reading

Posted in fools 'n frauds, litigation, manufacturing, news | Tagged , , , , , | Leave a comment

Online Retailer AutoAnything Pays $1 Million Fine for Selling Illegal, Polluting Aftermarket Parts in California

“Although the former AutoAnything, Inc. was a retailer, everyone in the chain of commerce – that is manufacturers, distributors, dealers, installers, and retailers – has an important responsibility to ensure that all aftermarket products they offer for sale have first been exempted by CARB,” said CARB Enforcement Chief Todd Sax. “This settlement is a reminder of the serious consequences for ignoring this responsibility.” Continue reading

Posted in environment, fools 'n frauds, litigation | Tagged , , , , , , , , | Leave a comment

Doomsday? No-Deal Brexit Impact on UK Light Vehicle Market

If the UK leaves the EU without a deal, then the LMC assumption would be that vehicles exported to the EU from the UK would be subject to a tariff of 10% as the UK would, by then, have become a ‘third country’ under EU trade rules. Continue reading

Posted in auto news, economy, financial results, fools 'n frauds, news analysis, prices | Tagged , , , , , , , , , , | Leave a comment

California, Federal Fines and extended Warranties and Fixes Cost Fiat Chrysler at Least $800m for Diesel Cheating

Companies and their board of directors may not believe in global warming, but regulators backed by ruinous fines along with alarmed shareholders and customers are making them act as if they do. Continue reading

Posted in environment, fools 'n frauds, fuel economy or emissions, litigation, news analysis | Tagged , , , , , , , , , , | Leave a comment

Non-Representative Government? Religions of the 116th Congress

By a wide margin, the largest difference between the U.S. public and Congress is in the share who are unaffiliated with a religious group. In the general public, 23% say they are atheist, agnostic or “nothing in particular.” In Congress, just one person – Sen. Kyrsten Sinema, D-Ariz., who was recently elected to the Senate after three terms in the House – says she is religiously unaffiliated, making the share of “nones” in Congress 0.2%. Continue reading

Posted in auto news, fools 'n frauds, news analysis, people, quality | Tagged , , , , , , , , , , | Leave a comment

Japanese Scrooges Run Amok as Carlos Ghosn Re-Arrested. Christmas Locked Up for the Gaijin!

Prosecutors then re-arrested Ghosn on new charges in a sordid tale that goes back to Ghosn’s first arrest on 19 November 2018. Ghosn could now be in a tiny jail cell for another 10 days or more, where he has been locked up since last month on initial allegations of financial misconduct. Continue reading

Posted in AutoInformed Editorial, financial results, fools 'n frauds, litigation, news analysis, people | Tagged , , , , , , , , | Leave a comment

Trump Record Deficit Watch – Another Proposed Increase

More than a year ago, President Trump pledged to eliminate the national debt “over a period of eight years.” But for the first time in history, the national debt surpassed $21 trillion, while Trump is facing 17 criminal investigations, another presidential record. Continue reading

Posted in economy, fools 'n frauds, litigation, news analysis | Tagged , , , , , , , , , | 1 Comment